Post by
Buckshot26 on Feb 19, 2014 11:50am
from scotia
they seem to see it pretty much as i do....
- Time to Talk About a Billion Tonne Timok Porphyry -- Reservoir-Freeport Joint Venture Hits More Porphyry-Style Mineralization in Serbia…0.74% CuEq over 902 metres: Yesterday after the close, Reservoir (RMC-CN, SO, C$9.50/sh target, Mike Hocking) released 13 holes from the Cukaru Peki target on JV property with Freeport McMoRan in Serbia. The holes include both infill drilling of the high-sulfidation mineralization and further testing of the deep porphyry exploration target. The infill holes appears to reconcile well with the recently released resource model. However more significantly, the porphyry holes have now defined deep porphyry mineralization over a ~ 1000m x ~600m area x 1400m depth interval. A very preliminary estimate of porphyry tonnage would be ~ 1Bt at ~0.8% CuEq. Mike currently gives zero value to the porphyry project but expects the porphyry exploration will be a major focus for Freeport.
Comment by
cd673 on Feb 19, 2014 5:21pm
Another great post Buck thanks. How does that convert to copper pounds? And by chance does anyone know the cost for block caving in general per pound. Just trying to get a handle on the potential dollars long term. Granted all rough order of magnitude. Thanks. Good movement today but what will take us higher? Any guesses to what is next?
Comment by
Buckshot26 on Feb 19, 2014 6:44pm
1% copper is 22 pounds per tonne. so .8% is 17.6 pounds per tonne or use whatever fractional grade you want and multiply by the number of tonnes and you have your answer.